Making resolutions? Don’t forget your financial tune-up for 2013; Citizens
Bank offers eight tips for getting into financial shape in the new year

January 07, 2013 12:22 PM Eastern Time

PROVIDENCE, R.I.--(BUSINESS WIRE)--To help consumers get in better financial shape in the new year,
Citizens Bank is encouraging people to take time to identify their
financial goals and to consider some simple but effective budgeting and
savings strategies as part of an annual financial tune-up. Small changes
made now can add up over time and help consumers to take control of
their finances.

“The beginning of a new year provides a natural opportunity to review
one’s personal finances and to conduct a simple financial tune-up that
can help identify or reaffirm financial goals and recognize any patterns
that need to be changed for the year ahead”

“The beginning of a new year provides a natural opportunity to review
one’s personal finances and to conduct a simple financial tune-up that
can help identify or reaffirm financial goals and recognize any patterns
that need to be changed for the year ahead," said Jerry Sargent,
President of Citizens Bank and RBS Citizens, Massachusetts. "We
encourage our customers and all consumers to take the time to review
their 2012 spending and savings records, write down their 2013 financial
goals and start thinking about their household budgets for 2013."

As a guiding principle, Citizens Bank recommends that consumers build a
sound foundation for financial health by saving more than they spend.
Regardless of age or financial situation, the following checklist
provides suggestions for an annual financial tune-up:

Identify your goals – Start by writing down your financial
goals for 2013. Deciding how much to save for retirement during the
year or developing a plan to pay down debt is not only smart, it's
rewarding because it can help you understand and manage your short-
and long-term financial goals. Writing down your goals makes them more
concrete and easier to track
through the year.

Build a budget – Budgeting
is not just about saving money. It also is about taking control of
your spending and gaining a better understanding of where your money
is going. Write down and analyze your expenses, especially small but
recurring expenses like your morning cup of coffee. Compare your
monthly income to what you're spending every month. And make sure your
budget includes putting money into an interest-bearing savings account.

Eliminate and reduce debt – If you’re using a high rate credit
card, look for lower credit
card rates and consider consolidating high balances to the card
with the best rate. Every month, pay off credit card balances as much
as practical. If you are carrying balances from holiday shopping, make
paying them down as quickly as possible a priority. Some cards also
offer cash back on purchases.

Establish automatic savings – "Pay yourself first" by having
part of your paycheck automatically deposited into a savings
account. The most successful savers start out small and increase
the amount over time.

Little changes add up – Remember that even modest changes can
quickly show results. According to an Accounting
Principals Workonomix Survey, two-thirds of American workers buy
lunch rather than brown-bagging it, spending more than $1,900 a year.
Packing your own lunch – even only a few days a week – will yield
direct savings.

Evaluate your retirement savings strategy – Are you enrolled in
your employer's 401(k) plan? If not, you likely should be, because any
employer match is the equivalent of "free money." Should an IRA
be part of your strategy for Tax Year 2012 as well as 2013?

Check your credit reports – The three major credit bureaus
(Equifax, Experian and TransUnion) each offer one free credit report
per year via AnnualCreditReport.com.
Review your credit history and dispute any errors you might find.

Seek advice – Talk with your banker, financial advisor or
accountant for additional suggestions. Many offer free initial
consultations to help determine if this option is right for you.

For more information about Citizens Bank and to see other tools that can
help you reach your financial goals in 2013, visit citizensbank.com
or call the bank's 24/7 customer service line at 1-800-922-9999.

About Citizens Bank

Citizens Bank is a division of RBS Citizens, N.A., operating its
seven-state branch network in Connecticut, Delaware, Massachusetts, New
Hampshire, New York, Rhode Island and Vermont. It has 50 branches and
127 ATMs in Connecticut. It has 24 branches and 58 ATMs in Delaware. It
has 254 branches and 752 ATMs in Massachusetts. It has 80 branches and
203 ATMs in New Hampshire. It has 159 branches and 378 ATMs in New York.
It has 83 branches and 192 ATMs in Rhode Island. It has 21 branches and
40 ATMs in Vermont.

RBS Citizens, N.A., is a subsidiary of RBS Citizens Financial Group,
Inc., a $132 billion commercial bank holding company. It is
headquartered in Providence, R.I., and through its subsidiaries has more
than 1,400 branches, approximately 3,600 ATMs and approximately 18,950
colleagues. Its two bank subsidiaries are RBS Citizens, N.A., and
Citizens Bank of Pennsylvania. They operate a 12-state branch network
under the Citizens Bank brand in Connecticut, Delaware, Massachusetts,
New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and
Vermont; and the Charter One brand in Illinois, Michigan and Ohio.
RBSCFG has non-branch retail and commercial offices in more than 30
states. RBSCFG is owned by RBS (the Royal Bank of Scotland Group plc).
RBSCFG’s website is citizensbank.com.

PROVIDENCE, R.I.--(EON: Enhanced Online News)--Bruce Van Saun, Chairman and CEO of Citizens Financial Group (NYSE: CFG), issued the following statement this morning: “It is with deep sadness that I... more »